Craziest thing about this isn't that India adopted but rather what that news didn't do to the price. I remember back in 2013 when every day it was seemingly:
- Woo-hoo! China's In! Moon! ... Cue price rise to $1K plus
- Oh noes... China's Out! Bitcoin is dead! ... Cue price fall below $300-400
India is HUGE news because it brings a population of 1 billion plus people to Bitcoin. If every citizen wanted to grab some Bitcoin, and I know its a ridiculous thought experiment, each could only get 0.021 equally.
So IMHO, this is very Bullish news for not just Bitcoin, but cryptocurrency in general. I just am shocked we didn't see some spikes today because of this news.
India's govt outlawed a bunch of their paper bills back in November-December...which basically put most small businesses in a tough spot because they only accepted cash. That did cause a spike in bitcoin. This news is a good for bitcoin...but will be a steadier increase rather than a spike.
Agreed.
I remember those days well too 😁😁😁😁
I think the separation of economies in the real world keeps price discovery between markets low so it could take time to see the effects. My guess is we'll see no major spikes from this but a long period of consolidation leading up to these fork dates. After that, either correct or 5k.
this is probably true. those who try to hold out for the fork results will slowly give in and buy before it happens, not wanting to miss out. spike is definitely coming once indian exchanges begin to bloom.
I wonder how many Indians even know, let alone most people elsewhere...
But Antshares ASAP, thank me later.....
https://steemit.com/antshares/@dragonsteem/will-antshares-double-after-tonight-s-antshares-conference